Retailers thankful for Govt support to help them come out of Covid crisis
New Delhi, Feb 27 (KNN) Retailers are grateful to the government for helping them out of the COVID-19 crisis in numerous ways as the Indian retail industry was impacted greatly due to the pandemic, said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
Rajagopalan, while speaking at the 15th edition of RAI’s Retail Leadership Summit (RLS) 2021 which was hosted online on the February 24th, 25th & 26th, said that the year 2020 is a testimony to the resilience of the Indian Retail industry and its capability of innovating on various levels under tough situations.
''RAI is very proud of Indian retailers and the retail workforce, who ensured that during the lockdown consumers were not left wandering to meet their needs for daily essentials. We are grateful to the central and state Governments and local Authorities who supported the industry in various ways so that we were able to serve the customers,'' he added.
He said that the pandemic also emphasized the importance of ‘Phygital’ retail by retailers and accelerated its adoption. The digital transformation that the industry has undergone during the pandemic has been revolutionary than evolutionary.
Commenting on the summit, he said that the Retail Leadership Summit 2021 (RLS 2021) aimed at reflecting new methods of doing business in the new era of post-COVID changing consumer mindsets.
Setting the tone, Bijou Kurien, Chairman, RAI said, “The Indian Retail sector is a significant contributor to the development of this country, contributing to about 10 per cent of the country’s GDP. It is a vibrant sector that is growing rapidly and metamorphosing traditional markets to modern markets. Backed by Government reforms as India accelerates towards becoming a growth economy, India is now seen as one of the most attractive destination for the retail industry.”